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Thursday, 19 July 2012
Wednesday, 18 July 2012
NIFTY SPOT----18 july 2012 update
NIFTY SPOT: 5300/75 >> 5171.20. BOOK OUT & TRY RISKY LONGS WITH SL 5165 (6/7 PTS). RE-ENTER SHORTS BELOW 5165 FOR 5149 (LOWER END OF GAP
Monday, 16 July 2012
EURO-USD....@ THE SUPPORT…POSSIBILITY OF REVERSAL??
MAJOR SUPPORTS: 1.20/1.21—1.18—1.15
MAJOR RESIATANCES: 1.23—1.255—1.27—1.29
After a break below descending triangle conversion rate tanked sharply. Now it is trying to take support
at crucial support line which is currently placed at 1.20-1.21. At the bottom, we can see a positive
divergence which is in support of our assumption that EURO may recover.
Confirmation criteria for Bulls-bears: Holding above 1.20-1.21 may allow EURO to see some recovery.
Towards 1.25 and 1.29 if breaks above 1.25/1.26. Action below 1.20 may create triple positive divergence
on the cards.
MAJOR RESIATANCES: 1.23—1.255—1.27—1.29
After a break below descending triangle conversion rate tanked sharply. Now it is trying to take support
at crucial support line which is currently placed at 1.20-1.21. At the bottom, we can see a positive
divergence which is in support of our assumption that EURO may recover.
Confirmation criteria for Bulls-bears: Holding above 1.20-1.21 may allow EURO to see some recovery.
Towards 1.25 and 1.29 if breaks above 1.25/1.26. Action below 1.20 may create triple positive divergence
on the cards.
CRUDE OIL ON TECH CARDS (in $)....Inverted H&S pattern at support..
MAJOR SUPPORTS: 80/81—77---75--73.5--70/71
MAJOR RESIATANCES: 87/87.5—90.5—92.6—95—99/100.65
After a sharp cut from 110 to almost 77 dollers, it had reached to a crucial support zone of $75-80. Also
on volumes front we had reducing volumes and on leading indicators like RSI we can see a positive
divergence. As a result we had a healthy bounce towards immediate resistance band $87-90 and then a
marginal cut towards $83. Now we have an inverted H&S on the cards having neckline in the range $88-
90. Trigger band is placed in the same range 88-90.5.
Confirmation criteria for Bulls-bears: It must hold 77-81 band and break above 88/90.5 on closing basis.
MAJOR RESIATANCES: 87/87.5—90.5—92.6—95—99/100.65
After a sharp cut from 110 to almost 77 dollers, it had reached to a crucial support zone of $75-80. Also
on volumes front we had reducing volumes and on leading indicators like RSI we can see a positive
divergence. As a result we had a healthy bounce towards immediate resistance band $87-90 and then a
marginal cut towards $83. Now we have an inverted H&S on the cards having neckline in the range $88-
90. Trigger band is placed in the same range 88-90.5.
Confirmation criteria for Bulls-bears: It must hold 77-81 band and break above 88/90.5 on closing basis.
USD-INR ON DAILY CARDS DECIDER RANGE: 54/54.8—56/56.50
After a smart run up, conversion rate rally stopped near the upper end of a channel and with a
breakdown action it tumbles to crucial support band 54/54.8. This band proved as a crucial support
region and has also confirmed the shift of a channel with lowering down the degree. Now, until $
sustains 54-54.8 support band, it is likely to maintain its strength. Breaking below 54 on closing basis
may lead to a sharp recovery in Rupee in later part.
Confirmation criteria: Conversion rate should sustain below trend line support and a recently broken
resistance region 56/56.30
For major downward action: Rate must drop below 54/54.80 and RSI should move below 50 mark. One
can expect a sharp cut only on satisfying both these requirements.
MAJOR SUPPORTS: 54.80—54/54.15—52.60/52.70
MAJOR RESIATANCES: 56/56.45--57.50—58—59
breakdown action it tumbles to crucial support band 54/54.8. This band proved as a crucial support
region and has also confirmed the shift of a channel with lowering down the degree. Now, until $
sustains 54-54.8 support band, it is likely to maintain its strength. Breaking below 54 on closing basis
may lead to a sharp recovery in Rupee in later part.
Confirmation criteria: Conversion rate should sustain below trend line support and a recently broken
resistance region 56/56.30
For major downward action: Rate must drop below 54/54.80 and RSI should move below 50 mark. One
can expect a sharp cut only on satisfying both these requirements.
MAJOR SUPPORTS: 54.80—54/54.15—52.60/52.70
MAJOR RESIATANCES: 56/56.45--57.50—58—59
Monday, 9 July 2012
Thursday, 5 July 2012
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